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News Corporation (ASX:NWS, NASDAQ:NWSA) has exceeded expectations and posted a 65 per cent jump in its second quarter earnings.
The media company says net income rose to $US1.06 billion, or about $AUD985 million, on the back of growth in its cable TV and film businesses.
In the last three months of 2011 revenue rose 2.4 per cent to $US8.98 billion, also coming in higher than expectations.
The results were achieved in the same period News Corp dealt with the fall-out from its British phone-hacking scandal that resulted in it shutting down its News of the World tabloid paper.
Chairman and CEO Rupert Murdoch says he is particularly pleased with the success of News Corp’s business strategies in spite of uncertain economic conditions.
News Corp booked a net profit of just under $2.7 billion in the year to June 30, 2011.
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